he Mutual Fund Cafe
has served its last diner. The Web site which had provided monthly commentary on the fund industry now announces to visitors that it will no longer be providing fresh content and is being shut down.
of Wechsler Ross & Partners
, the principal sponsors of the site explained that the firm was not willing to upgrade the site since it was not part of its core business. Other sponsors included Financial Research Corp.
, Dechert Price and Rhoads
, Ernst & Young
, Putnam Lovell Securities
, and State Street
All of the sponsors shared the expenses for operating the site, which were minimal, explained Ross.
"It's been a fun ride and we enjoyed doing it," he explained. "It was fun for us and our readers both. We always maintained a very high standard of quality on the site. We never made any money and never lost and money -- which is more than most web sites can say. But that's not an Internet stratey and so we shut the doors and are sorry to see it go."
The site will continue to allow access to its archives for the time being as a service to the industry. Visitors to the site are greeted with a simple message:
"A message to our loyal customers: After five years of delivering fresh information to hungry readers, Mutual Fund Cafe is shutting its doors. Since 1996, we have enjoyed serving up healthy portions of in-depth, objective analysis of the investment management industry. For an archive of articles we've dished out over the years, click on the Pantry. Thank you for your support. The Management."
Mutual Fund Cafe was the first content site devoted to fund issues when it opened in 1996, but it failed to take full advantage of the immediacy Web as it only updated content on a weekly and monthly cycle. The site did not charge visitors to access content.
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